Ibotta (NYSE:IBTA) CTO Sells $208,731.60 in Stock

Ibotta, Inc. (NYSE:IBTA) CTO Luke Roy Swanson sold 5,940 shares of Ibotta stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $35.14, for a total transaction of $208,731.60. Following the sale, the chief technology officer owned 489,904 shares of the company’s stock, valued at $17,215,226.56. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Luke Roy Swanson also recently made the following trade(s):

• On Thursday, June 4th, Luke Roy Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $32.98, for a total transaction of $195,901.20.

Ibotta Price Performance

NYSE:IBTA opened at $31.45 on Thursday. The company’s fifty day moving average price is $33.14 and its 200-day moving average price is $28.10. Ibotta, Inc. has a 1-year low of $19.10 and a 1-year high of $41.14. The firm has a market capitalization of $635.29 million, a P/E ratio of -92.50 and a beta of -0.59.

Ibotta (NYSE:IBTA) last issued its earnings results on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.45. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The firm had revenue of $82.48 million for the quarter. During the same quarter in the previous year, the company earned $0.02 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts anticipate that Ibotta, Inc. will post 0.24 EPS for the current fiscal year.

Ibotta declared that its board has authorized a stock repurchase plan on Wednesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 21.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Ibotta

Several large investors have recently added to or reduced their stakes in the stock. Essential Partners LLC increased its stake in shares of Ibotta by 40,800.0% in the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after acquiring an additional 816 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Ibotta by 17.8% in the first quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock valued at $7,168,000 after purchasing an additional 36,223 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Ibotta by 17.7% in the first quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock valued at $7,172,000 after purchasing an additional 35,992 shares during the period. Sei Investments Co. acquired a new stake in Ibotta during the first quarter worth about $344,000. Finally, Meeder Asset Management Inc. purchased a new position in Ibotta during the first quarter worth about $39,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Zacks Research raised Ibotta from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a research note on Wednesday, June 24th. Finally, Needham & Company LLC increased their target price on shares of Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $33.83.

About Ibotta

Ibotta (NYSE: IBTA) is a Denver‐based mobile commerce platform that connects consumers, retailers and brands through a unified cash-back rewards experience. Users access the Ibotta mobile app or browser extension to unlock rebates on everyday purchases, redeemable on groceries, retail goods, travel bookings and digital services. The platform integrates with major supermarket chains, big‐box retailers and online merchants, enabling shoppers to earn automatic cash-back both in physical stores and across e-commerce channels.

Founded in 2012 by co‐founder and CEO Bryan Leach, Ibotta has evolved from a simple rebate app into a comprehensive performance marketing partner for consumer goods companies.